Enterprise security co Cycode raises $4.6m

Israeli enterprise security startup Cycode has announced that it has raised $4.6 million in seed funding. The round was led by YL Ventures with participation from security industry leaders including Mike Fey, Andy Grolnick, Justin Somaini and Eyal Gruner. The Tel Aviv-based company is pioneering a solution for source code control, detection and response.

Founded by CEO Lior Levy (CEO) and CTO Ronen Slavin, Cycode’s mission is to protect source code, the building blocks of an organization’s software, and the highly valuable intellectual property (IP) contained in it, from the growing risk of theft, leakage and manipulation.

Levy said, "Organizations today depend on development teams composed of local and remote employees, contract developers and other third parties working across on-premise and cloud source control management systems. Easy access across these many fragmented repositories is crucial to keep developers productive and delivering. Unfortunately, security teams lack the visibility and control they need to protect these processes. Today, it’s impossible for security teams to answer the most basic questions about their organization’s source code - Where are all of the copies of my source code stored? Which pieces of it are stored where? Who has access to it?"

Cycode, the first solution to address this security gap, intends to set the industry standard in source code protection.

Published by Globes [online], Israel business news - en.globes.co.il - on September 25, 2019